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Securities (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Available for Sale Debt Securities | AFS debt securities at December 31, 2023 and 2022 were as follows:
| December 31, 2023
| Amortized |  | Gross Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Gov’t sponsored entities | $ | 5,024 |  |  | $ | — |  |  | $ | (36) |  |  | $ | — |  |  | $ | 4,988 |
State & political subdivisions | 105,102 |  |  | 22 |  |  | (13,315) |  |  | — |  |  | 91,809 |
Residential & multi-family mortgage | 225,871 |  |  | 1 |  |  | (34,353) |  |  | — |  |  | 191,519 |
Corporate notes & bonds | 48,459 |  |  | 13 |  |  | (5,333) |  |  | — |  |  | 43,139 |
Pooled SBA | 11,347 |  |  | — |  |  | (847) |  |  | — |  |  | 10,500 |
Total | $ | 395,803 |  |  | $ | 36 |  |  | $ | (53,884) |  |  | $ | — |  |  | $ | 341,955 |
| December 31, 2022
| Amortized |  | Gross Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Gov’t sponsored entities | $ | 3,213 |  |  | $ | — |  |  | $ | (84) |  |  | $ | — |  |  | $ | 3,129 |
State & political subdivisions | 112,734 |  |  | 24 |  |  | (17,095) |  |  | — |  |  | 95,663 |
Residential & multi-family mortgage | 256,111 |  |  | — |  |  | (38,564) |  |  | — |  |  | 217,547 |
Corporate notes & bonds | 47,111 |  |  | — |  |  | (4,720) |  |  | — |  |  | 42,391 |
Pooled SBA | 13,823 |  |  | — |  |  | (1,144) |  |  | — |  |  | 12,679 |
Total | $ | 432,992 |  |  | $ | 24 |  |  | $ | (61,607) |  |  | $ | — |  |  | $ | 371,409 |
Information pertaining to security sales is as follows:
Year ended December 31 | Proceeds |  | Gross Gains |  | Gross Losses
2023 | $ | 13,151 |  |  | $ | 52 |  |  | $ | — |
2022 | 22,164 |  |  | 651 |  |  | — |
2021 | 33,553 |  |  | 783 |  |  | — |
Schedule of Held-To-Maturity Debt Securities | HTM debt securities at December 31, 2023 and 2022 are as follows:
| December 31, 2023
| Amortized |  | Gross Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Gov’t sponsored entities | $ | 302,945 |  |  | $ | — |  |  | $ | (19,038) |  |  | $ | — |  |  | $ | 283,907 |
Residential & multi-family mortgage | 86,023 |  |  | — |  |  | (9,360) |  |  | — |  |  | 76,663 |
Total | $ | 388,968 |  |  | $ | — |  |  | $ | (28,398) |  |  | $ | — |  |  | $ | 360,570 |
| December 31, 2022
| Amortized |  | Gross Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Gov’t sponsored entities | $ | 307,711 |  |  | $ | — |  |  | $ | (27,276) |  |  | $ | — |  |  | $ | 280,435 |
Residential & multi-family mortgage | 97,054 |  |  | — |  |  | (10,101) |  |  | — |  |  | 86,953 |
Total | $ | 404,765 |  |  | $ | — |  |  | $ | (37,377) |  |  | $ | — |  |  | $ | 367,388 |
HTM debt securities with unrealized losses at December 31, 2023 and 2022, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
December 31, 2023 | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Gov’t sponsored entities | $ | — |  |  | $ | — |  |  | $ | 283,907 |  |  | $ | (19,038) |  |  | $ | 283,907 |  |  | $ | (19,038) |
Residential & multi-family mortgage | — |  |  | — |  |  | 76,663 |  |  | (9,360) |  |  | 76,663 |  |  | (9,360) |
Total | $ | — |  |  | $ | — |  |  | $ | 360,570 |  |  | $ | (28,398) |  |  | $ | 360,570 |  |  | $ | (28,398) |
December 31, 2022 | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Gov’t sponsored entities | $ | 143,556 |  |  | $ | (10,063) |  |  | $ | 136,879 |  |  | $ | (17,213) |  |  | $ | 280,435 |  |  | $ | (27,276) |
State & political subdivisions | 24,132 |  |  | (2,253) |  |  | 62,821 |  |  | (7,848) |  |  | 86,953 |  |  | (10,101) |
Total | $ | 167,688 |  |  | $ | (12,316) |  |  | $ | 199,700 |  |  | $ | (25,061) |  |  | $ | 367,388 |  |  | $ | (37,377) |
Schedule of Contractual Maturity of Securities Available for Sale and Held-To-Maturity, Excluding Equity Securities | The following is a schedule of the contractual maturity of AFS and HTM debt securities, excluding equity securities, at December 31, 2023:
| Available-for-sale |  | Held-to-maturity
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
1 year or less | $ | 13,023 |  |  | $ | 12,902 |  |  | $ | 68,745 |  |  | $ | 67,413 |
1 year – 5 years | 40,995 |  |  | 38,750 |  |  | 188,794 |  |  | 177,158 |
5 years – 10 years | 83,131 |  |  | 72,006 |  |  | 45,406 |  |  | 39,336 |
After 10 years | 21,436 |  |  | 16,278 |  |  | — |  |  | — |
| 158,585 |  |  | 139,936 |  |  | 302,945 |  |  | 283,907 |
Residential and multi-family mortgage | 225,871 |  |  | 191,519 |  |  | 86,023 |  |  | 76,663 |
Pooled SBA | 11,347 |  |  | 10,500 |  |  | — |  |  | — |
Total debt securities | $ | 395,803 |  |  | $ | 341,955 |  |  | $ | 388,968 |  |  | $ | 360,570 |
Schedule of AFS with Unrealized Loss Position | AFS debt securities with unrealized losses at December 31, 2023 and 2022, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
December 31, 2023 | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Gov’t sponsored entities | $ | 2,487 |  |  | $ | (1) |  |  | $ | 1,956 |  |  | $ | (35) |  |  | $ | 4,443 |  |  | $ | (36) |
State & political subdivisions | 749 |  |  | — |  |  | 84,828 |  |  | (13,315) |  |  | 85,577 |  |  | (13,315) |
Residential & multi-family mortgage | — |  |  | — |  |  | 191,436 |  |  | (34,353) |  |  | 191,436 |  |  | (34,353) |
Corporate notes & bonds | 978 |  |  | (22) |  |  | 41,488 |  |  | (5,311) |  |  | 42,466 |  |  | (5,333) |
Pooled SBA | — |  |  | — |  |  | 10,409 |  |  | (847) |  |  | 10,409 |  |  | (847) |
Total | $ | 4,214 |  |  | $ | (23) |  |  | $ | 330,117 |  |  | $ | (53,861) |  |  | $ | 334,331 |  |  | $ | (53,884) |
December 31, 2022 | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Gov’t sponsored entities | $ | 3,129 |  |  | $ | (84) |  |  | $ | — |  |  | $ | — |  |  | $ | 3,129 |  |  | $ | (84) |
State & political subdivisions | 34,667 |  |  | (1,887) |  |  | 54,546 |  |  | (15,208) |  |  | 89,213 |  |  | (17,095) |
Residential and multi-family mortgage | 48,996 |  |  | (3,122) |  |  | 168,551 |  |  | (35,442) |  |  | 217,547 |  |  | (38,564) |
Corporate notes & bonds | 31,730 |  |  | (3,403) |  |  | 10,661 |  |  | (1,317) |  |  | 42,391 |  |  | (4,720) |
Pooled SBA | 5,107 |  |  | (314) |  |  | 7,572 |  |  | (830) |  |  | 12,679 |  |  | (1,144) |
Total | $ | 123,629 |  |  | $ | (8,810) |  |  | $ | 241,330 |  |  | $ | (52,797) |  |  | $ | 364,959 |  |  | $ | (61,607) |
Schedule of Trading Securities | Equity securities at December 31, 2023 and 2022 were as follows:
| December 31, 2023 |  | December 31, 2022
Corporate equity securities | $ | 5,341 |  |  | $ | 6,973 |
Mutual funds | 2,223 |  |  | 1,406 |
Money market | 1,103 |  |  | 479 |
Corporate notes | 634 |  |  | 757 |
Total | $ | 9,301 |  |  | $ | 9,615 |

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